Following are some of the multiple choice questions on the Economics with answers that will help the students in developing their knowledge.
7. What is Gross Domestic Product?
10. Another word for money
12. What is a free market economy?
13. Which of the following is not a service?
14. Income set aside for unexpected expenses
15. A person who buys goods and services
16. Economic System where there is limited technology and ideas are passed down from generation to generation
17. The majority of the least developed countries can be found on which continent?
18. Basic things humans need to survive
19. A general increase in prices
20. What type of economy does the United States have?
22. Tools we use to make products
23. Type of Economy where Supply and demand determine prices with little gov intervention
24. Which of these jobs is involved in production?
25. When something given up for something else is called?
26. What term refers to a good that leaves a country?
27. Services provided by people
29. How much of a good or service consumers want
30. A person who purchases a good or service
31. A person who provides a good or service
32. Things purchased by consumers
33. How much of something is available
34. The amount of money we pay for a good or service
35. Something we use from nature
36. The place where goods and services are exchanged
37. Something we pay for that we can touch
38. How much people want something
39. The using up of a resource
40. Not being able to meet all wants at the same time
41. Actions that people do for others
42. A farmer would fall under which economic activity?
43. New technology that increases the speed of production would have what impact on the prices of goods?
44. What term refers to a good that comes into a country?
45. A good made in the United States and sent to other countries
46. Goods made to use in the production of other goods
47. What do you call someone who makes or provides a good or service for purchase?
48. What is a good which is produced domestically but sold in a foreign country?
49. What is the calculation of the value in USD of all the goods and services
50. An increase in competition would have what effect on price?
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